Posted by valour > 2019-06-04 13:15 | Report Abuse

banker33
Nope...by May 2022 all loan stocks n warrants will be converted automatically . Warrants will be worthless ...0.25 to convert to mother share . Major shareholders lose big time

Posted by valour > 2019-06-04 13:34 | Report Abuse

True...that's why I say Asiapac " Boleh " . Maybe we can make a report to Bursa on these weird trade

Posted by valour > 2019-06-04 13:37 | Report Abuse

Some of the buying n selling is among themselves ....operators

Posted by nckcm > 2019-06-04 13:37 | Report Abuse

hhaahha everyday season raya ka? Bodoh why now only show video. Dont dare show off season video ka?

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-04 13:39 | Report Abuse

let me put it into perspective for you.

The valuation of and intrinsic value of Imago I have no idea, same as I do not know if the big crowd there is a spending crowd or just there to enjoy aircon, eat dinner and do window shopping.

But here are relevant facts. this is what is being paid by asiapac every year.


Imago mall valuation: valuation estimate is 400 million. My valuation is day to day operations + parking - debt generated to build imago mall.



construction cost was 700 million. total units was 631 for sale, imago mall is not for sale. balance debt after sales and unsold units up to date is around 300 million, plus minus a few million.

here is the kicker,
in this year,
mall operations:
Revenue (85.4 million) this quarter 24.6 million, income (22.42 million) this quarter 7.8 million.
Carpark operations: (10.1 million) this quarter 2.6million, income (5.8 million ) this quarter 1.18 million.

in previous year,
Mall operations contributed RM52.3 million in revenue and segment profit of RM15.1 million, respectively representing an increase of RM9.6 million, or 22.5% and RM17.2 million, or 835% from the preceding year of RM42.7 million and loss of RM2.1 million.

so in total the returns are
27.2 million this year
16.3 million last year
-2.1 million year before.

How much is the debt generated?
the total debt outlay is 337 million still outstanding, debt encurred finance cost of

22.3 million this year
26.1 million last year

finance costs alone. We have not even begun to touch the capital borrowings.

Before you go into saying but Asiapac made 52.684 million in net profit last year and saying everything is fine, you should ask yourself, how much is real generated cash flow, and how much is paper profits from fair value adjustments?

The answer is very clear:
45.8 million is from non-cash items.
Real cash generated from operations is 14.12 million.

Basically the question to ponder on why the stock price has not gone above 20 cents since 2015 is very simple.

If you borrow 337 million to buy a property, every year your finance costs alone will be around 6.6% or 22.3 million. but if the income returns from the mall net is only 24.6+2.6 million, you only make a profit of 5 million every year, to reduce that 337 million borrowings which can kill you if the rates revise up. Is the investment worth it?

you can say whatever you want on how much your property and project is worth. you can say you are worth 1.4 billion, but the fact remains, if no one is willing to pay you 1.4 billion for your assets you are worth nothing. and every year you have to service your loans and borrowings (at 6%) before even cutting into the principal sum. Do you think you can get a return of more than 10% to pay off finance costs and reduce principal borrowings?

If you think Asiapac can do it, then ASIAPAC is a good investment.

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-04 13:41 | Report Abuse

But don't take my word for it, this is the reply from the management team of ASIAPAC themselves.

Anticipated Risks
We believe that there is a general oversupply of retail space in Kota Kinabalu as newer malls are introduced into the local market such as ITCC Penampang, Jesselton Mall, Aeropod and Pacific Mall (yet to open), on top of existing mega malls such as Suria Sabah and 1Borneo. The opening of more stores will give shoppers more options and may potentially make Imago less exclusive. Nevertheless, we believe that strong management and creative experiential marketing along with constant fresh attractions will keep Imago relevant.

Outlook
We believe that the general retail market will continue to be weak as people are still looking for positive indications on the economy. The oversupply of retail space is affecting rental rates as mall owners are fighting for the limited number of quality brands available in the market.

Posted by nckcm > 2019-06-04 13:41 | Report Abuse

There u go. Otherwise this QR wont be making loss, using accounting technique to look good. Pathetic

Posted by valour > 2019-06-04 13:42 | Report Abuse

Another hate filled tirade so predictable . Really no fun

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-04 14:05 | Report Abuse

Hi valour, this is not a hate filled tirade. In fact I enjoy going to imago and hope no problems arise, it is the best managed mall in KK.
Madam Kwan just opened, and I like it very much, this nasi bojari.

However.....

there is a difference between investing and scuttlebutt.

I only seek to explain why since 2015 the shareprice is going down, why the PE is so low (PE can also mean price expectation for company growth), why a 1.4 billion NTA company need to raise funds borrow money and do ICULS.

In life it is the same as in investing. Stay away from debt, huge borrowings and inability to grow the business. Understand your competitors and peers and how the industry is doing as a whole. Do profitable activities and stay away from loss making companies.

>>>>
Posted by valour > Jun 4, 2019 1:42 PM | Report Abuse
Another hate filled tirade so predictable . Really no fun

Posted by calvintaneng > 2019-06-04 14:07 | Report Abuse

PHILIP

YOU MUST TAKE NOTE THAT ASIAPAC DIRECTORS/INSIDERS ARE ALL HOLDING THEIR SHARES TIGHTLY AS HIGH AS 30 SEN

IF THEY ARE BEARISH THEY WOULD HAVE SOLD AND NOT HOLDING ON

IF INSIDERS HOLDING AT 30 SEN OUTSIDERS LIKE US CAN HAPPILY HOLD AT 13.5 SEN

Posted by valour > 2019-06-04 14:16 | Report Abuse

Philip
Not from u . Nckcm

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-04 14:19 | Report Abuse

This is very true, but another true point is did they pay 30 sen for their shares? Are they buying more shares at 13.5 sen?

The last time asiapac directors bought shares were in 2016 after listening to calvintaneng buy call.

The last time asiapac major shareholder buy shares were in 2015 after listening to calvintaneng buy call.

The last time company do a major buyback of shares at low price 13.5 sen was...……… NEVER.

If directors don't buy shares at cheap prices, major shareholders don't buy shares at cheap price, company doesn't do buyback (or dividend) at cheap prices.... why should general public buy a 1.4 billion NTA company at cheap prices?

Oh wait.... they don't. ASIAPAC is worth 160 million because all stuck due to Paster KONG HEE RECOMMENDATION err I mean Calvin Tan the FRAUD.

Rights issue in 2017,
ICULLS in 2018.

Where is the money? Why no profit? Why need to raise more and more and more money from general public?

Only PASTOR CALVINTANENG FROM I3 HARVEST CHURCH KINOWS... or does he?

>>>>>>

Posted by calvintaneng > Jun 4, 2019 2:07 PM | Report Abuse
PHILIP

YOU MUST TAKE NOTE THAT ASIAPAC DIRECTORS/INSIDERS ARE ALL HOLDING THEIR SHARES TIGHTLY AS HIGH AS 30 SEN

IF THEY ARE BEARISH THEY WOULD HAVE SOLD AND NOT HOLDING ON

IF INSIDERS HOLDING AT 30 SEN OUTSIDERS LIKE US CAN HAPPILY HOLD AT 13.5 SEN

Posted by calvintaneng > 2019-06-04 14:24 | Report Abuse

Posted by (US/CHN trade war doesn't matter) Philip > Jun 4, 2019 2:19 PM | Report Abuse

{{{The last time asiapac directors bought shares were in 2016 after listening to calvintaneng buy call.

The last time asiapac major shareholder buy shares were in 2015 after listening to calvintaneng buy call. }}}

SATAN IS THE FATHER OF LIES

PHILIP IS THE SON OF SATAN AND THE CHIEF ANTI CHRIST!!!

WHERE GOT PROOFS DIRECTORS BOUGHT ASIAPAC AT 30 SEN AFTER LISTENING TO CALVIN

A BIG LIAR LIKE PHILIP WILL KENA GOD'S WRATH IF YOU DON'T REPENT!!

SOMETHING BAD MIGHT HAPPEN TO YOU OR YOUR FAMILY IN RETRIBUTION!!

Posted by nckcm > 2019-06-04 14:26 | Report Abuse

Hahahhaha truth revealed ! A so called scam pastor !

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-04 14:30 | Report Abuse

pausing for effect.... I apologize. I forgot that no smart investor listens to calvin at all. Only 20 year old new kids into I3 who think calvin is a chun chun call artist.

But this becomes worse... if they did not listen to calvin and buy ASIAPAC... why did they buy ASIAPAC and get stuck at 30 sen in the first place? Are they getting another source of income? Say..... millions of director fees?

>>>>>>

WHERE GOT PROOFS DIRECTORS BOUGHT ASIAPAC AT 30 SEN AFTER LISTENING TO CALVIN

Posted by calvintaneng > 2019-06-04 14:35 |

Post removed.Why?

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-04 14:35 | Report Abuse

Directors are getting paid fat fees to do nothing for the shareholders except do RI and ICULS.

Meanwhile.... Calvin has not been receiving any increase in share price or dividends since 2015.

So sad, must pray for him. He says he has 200% returns though, but if he invested in companies like TALAMT, PROTASCO, KARAMBUNAI and ASIAPAC can you really believe him?

For other investors I apologize, the only person I do this to is CALVINTANENG, this Singaporean snake has been irritating me for a long while now, and he started a WhatsApp scam to get followers to follow him bulk buy into stocks which he frontrun, so I am pretty much here to destroy him.

Posted by nckcm > 2019-06-04 14:36 | Report Abuse

Give you sweets at first then ask u buy stocks turning point into huge losses.! At first u wont believe him so u buy a bit and get good gains, after believing him u buy more than previously and make huge loss !

Posted by calvintaneng > 2019-06-04 14:38 |

Post removed.Why?

Posted by calvintaneng > 2019-06-04 14:39 |

Post removed.Why?

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-04 16:25 | Report Abuse

Calvin knows nothing about asianpac or Sabah business except what he sees from an annual report. This kind of investing anyone can b do. That's why he has to buy 36 stocks to "diversify" and reduce his average risk. But his portfolio is a diverse pile of crap.

You will not find long term wealth here.

Posted by KWAP > 2019-06-04 16:30 | Report Abuse

Calvin lost 20% in Uzma in 1 mth.

Posted by nckcm > 2019-06-04 16:37 | Report Abuse

Thanks KWAP for mass selling Uzma

Posted by calvintaneng > 2019-06-04 17:17 |

Post removed.Why?

Posted by calvintaneng > 2019-06-04 17:34 | Report Abuse

Posted by Hunter 88 Hunter 88 > Jun 4, 2019 5:28 PM | Report Abuse

We will see who the best research


WHAT RESEARCH?

COWS ONLY DO ONE TYPE OF SEARCH

SEARCH FOR GRASS AND VEGETATION!!!

HOW CAN COW DO RESEARCH?

COW TYPE OF INVESTORS WILL NEVER EVER BUY CYCLICALS, TURNAROUND OR ASSET PLAYS

NEITHER DO COW EVER EAT BEEF STEAK!

Posted by Hunter 88 Hunter 88 > 2019-06-04 17:41 | Report Abuse

Hahaha.calvintaneng bo...doh.super lembu.

Posted by xiaoji > 2019-06-05 00:57 | Report Abuse

use the same price, better buy marco, at least a net cash company and every year dividend.
i just comment, do not own any marco and asiapac(use to own many years ago, also due to the revaluation which made the QR profit 1000%)

Posted by calvintaneng > 2019-06-05 07:28 | Report Abuse

Xiaoji

Marco sells calculator and others mediocre products which give mediocre dividend. It is ok.

But look at something better than that.

As Warren Buffet says if he is out looking for a 7 foot man a 5 feet 5 inch won't do.

So getting 3% to 5% a year is mediocre. Try to strive for at least 7% or more. Compounding over time you will beat inflation

Posted by banker33 > 2019-06-05 07:36 | Report Abuse

Posted by nckcm > Jun 4, 2019 1:37 PM | Report Abuse

hhaahha everyday season raya ka? Bodoh why now only show video. Dont dare show off season video ka?


why you scold people bodoh when you don't buy any shares at all but now and then go against this counter especially what buyers said. if you don't want to buy, then just move on to other counter , no need to scold people bodoh when he didn't scold you at all. period.

Posted by banker33 > 2019-06-05 07:38 | Report Abuse

Posted by nckcm > Jun 4, 2019 1:37 PM | Report Abuse

hhaahha everyday season raya ka? Bodoh why now only show video. Dont dare show off season video ka?


it's their money and what they buy is none of your business as it's not using your money, so whether the buyers earns or loses it not your gain or loss, so why so kaypo?

Posted by nckcm > 2019-06-05 08:16 | Report Abuse

No because u all trying to convince people to buy this stock. Theres a reason why this stock share price wont go up even though super low PE. As simple as it is, this stock cant repay debt efficiently. So better not touch it

Posted by nckcm > 2019-06-05 08:17 | Report Abuse

Maybe it may fly again operator goreng this stock, then its the best time for holders to exit again.

Posted by valour > 2019-06-05 10:20 | Report Abuse

nckcm/deMusang
U guys remind me of Donald Trump . Hahaha

Posted by valour > 2019-06-05 10:54 | Report Abuse

Better to laugh than cry my fren . Nothing last forever . Maybe ur karma will pay u back

Posted by nckcm > 2019-06-05 11:33 | Report Abuse

Haiya k la. This stock wont die yet but the debt they really really need to settle.

Posted by calvintaneng > 2019-06-05 11:43 | Report Abuse

Must learn to differentiate between good and bad debt

If you buy a high end car with loan for consumption or just to show off then the debt is very bad as it will be detrimental long term

But if you borrow to invest in income generating assets or business then it is good debt.

Asiapac still has many assets including 400 acres of land in Labu.

If needs be these could be sold off to settle debt then all the rental from imago mall and car parks could be used for paying future dividends

Then asiapac will turn into a reit like igb or hectar reit

So look at things in their proper perspective

Posted by valour > 2019-06-05 12:29 | Report Abuse

Hey...agreed all the bank loans to buy properties then paid off now worth a lot now . All near SS2 u think how many times appreciate...haha

Posted by valour > 2019-06-05 12:38 | Report Abuse

If don't know ask Mr Mah the bungalow if he bought it at $120k then... now can sell for how much .

Posted by valour > 2019-06-05 12:44 | Report Abuse

Wait lah...patience is a virtue .

Posted by Nepo > 2019-06-05 14:03 | Report Abuse

Agreed, borrow to own properties is a normal way to accumulate your wealth as real properties will appreciate in value, so Imago no only benefit from rental, but also appreciation. One year appreciate RM 40million is very good already. Assume cost of the building is RM 400 million, it appreciate by almost 10% pa.

As for borrowing to build Imago, may I know how many of you are using cash to buy your residential properties?

Posted by valour > 2019-06-05 14:17 | Report Abuse

Asiapac have a lot of properties in KL n PJ too not only Imago mall the crown jewel. Seri Gombak / Kepong / Damansara Damai . Kepong itself is worth a lot

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-05 14:27 | Report Abuse

Hi valor, asiapac fortuna centra is very nice place, have you considered buying the units they are selling?

They are selling their unit 1377sqft service apartment for 1 million. Yes it is worth a lot, do you think you will want to buy it? Is it a good deal?

Do you think the unit is worth 1 million in kepong? I'm interested to know how long before you think a 1377 sqft unit in the outskirts of kepong at 1m is considered cheap.

As for me, I bought my subang bungalow long time almost 15 years ago at 350k.

I haven't bought any apartments since.

1 million service apartment maximum rental yield there is 2000 per month if you are lucky. Not including maintenance and utilities.

Anyone who buys these apartments at these prices for investment insane.

Posted by Nepo > 2019-06-05 14:27 | Report Abuse

Every biz, every investment does carry risk. There is no guarantee profit. If u are afraid of losses, e.g. Imago depreciates in value or some reasons or others, then investment and biz are not your piece of cake. You are only suitable for nine-to-five job 朝九晚五的工作。U get it?

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-05 14:35 | Report Abuse

Being afraid of losses and being smart with your investment in 2 very different things.

Without regards to being investor in asianpac I give you some example:

In 2015 calvintaneng put 100,000.00 into asiapac. How much money does Calvin have today?

In 2015 old uncle put 100,000.00 into epf. How much money does old uncle have today?

You are very smart nepo, there is no guaranteed profit. But there is such thing as guaranteed risk.

If you put your head into lion mouth you may not die, but if you jump into quicksand chances pretty high you will die.

In essence, why take high risk for low reward? Asiapac has been selling since 1913, and on Bursa main board for very long time. If it hasn't performed for a long time, what makes you think they will perform now when debts are high?



>>>>>>>>

Posted by Nepo > Jun 5, 2019 2:27 PM | Report Abuse

Every biz, every investment does carry risk. There is no guarantee profit. If u are afraid of losses, e.g. Imago depreciates in value or some reasons or others, then investment and biz are not your piece of cake. You are only suitable for nine-to-five job 朝九晚五的工作。U get it?

Posted by valour > 2019-06-05 14:40 | Report Abuse

Some ppl just think local ...spread ur mind further 1M above foreigners can allow to buy . Honestly I wouldn't buy I m more to PJ side like SS2 / Kota Damansara more to 1 Utama . More to selling now... die cannot bring real estate along n I have no kids

Posted by (US/CHN trade war doesn't matter) Philip > 2019-06-05 14:47 | Report Abuse

I think if foreigners like Calvin also will not buy 1m properties in kepong.

But I agree, no one willing to pay 1m now for properties in these areas, only in PJ and KL areas I will even consider.

This is called real intrinsic value. Calvin value for 400 acre in labu he can put whatever price he want. But if no one willing to pay up for the land the real value is last transaction and price willing to be paid by a developer with money to develop.

Hard to find those nowadays.

Posted by calvintaneng > 2019-06-05 14:48 | Report Abuse

Big problem with Philip is this.

He thinks Calvin bought 100,000 shares of asiapac long ago.

Only Calvin knows. Philip is presumptions and libelous

Now Calvin actually own All Asiapac shares

Posted by Nepo > 2019-06-05 14:51 | Report Abuse

Hi Philip, Asiapac share price was not performing in the past is not equal to Asiapac will not perform in future. Future is sth that one cannot predict or assume by normal persons. Who know one day it might shooting up 100% or 200%?

Asiapac previously is undertaking insurance biz, It only engage in properties in Year 200x if I'm not mistaken.

Posted by calvintaneng > 2019-06-05 14:51 | Report Abuse

Calvin's Asiapac shares now all free

Of course not knowing the real situation Philip will continue to scratch his head and wonder how and why?

Of course only Calvin and his remisier knows the truth.

Posted by calvintaneng > 2019-06-05 14:56 | Report Abuse

Philip only got cow brain and think like a cow.

As human we must think out of the box

See if cannot sell condo at Rm1 millions so what?

Sell it at 50% discount at Rm500k also very ok mah

See Asiapac Nta is Rm1.00

Even you sell assets at 50% discount and convert all assets to cash at half price then Rm1. 00 assets turn into 50 sen net cash still very good

AT 13.5 sen with still gain 200% instantly

So must think out of the box

A human has that ability but not a cow